Pakistan Steel Mills Karachi Will be Privatized
Privatisation of Pakistan Steel Mills Corporation (PSMC)
Islamabad (Saturday, October 25, 2014) – Today Privatisation Commission of Pakistan has invited applications for the proposals of Financial Advisory Services for the “Privatisation of Pakistan Steel Mills Corporation (PSMC)”.
Last date to submit technical and financial proposals is 28/11/2014 at 16:00 Hours.
About Pakistan Steel Mills?
Pakistan steel is largest and only integrated steel plant of Pakistan with a production capacity of 1.1 million tons per years (MTPY) expandable upto 3 million ton per anum. It was established in 1984 and is spread over 18600 acres of land. Number of employees working (work force) in this mills is 15274. Steel mills has 20 units.
Objectives of Pakistan Steel Mills Corporation?
1- Promote rapid development and modernization of steel sector through liberalization and private sector participation.
2- Improve performance and operational efficiency through injection of private sector capital, skill and technology.
3- Maximize the sale proceeds from the privatization process to be used for poverty alleviation and dept retirement.
4- Redefine the roll of government from owner operator to policy maker.